Daily Republican. [volume] ([Wilmington, Del.]) 1874-1890, 1887-06-15
A BIG CRASH IN WHEAT.
Th@ Western Corner Broken BY the
Anu-Ciique DoaIers-Three Failures In
milwaukee and Ono In Ohicago.


CHICAGO, June IA -This hiss been .
red letter Gay In the history of the grain
ousinsss In this city. Immediately
Aissr fAgopepinG Of the market the un
steady Keeling which had characterized
Saturdays procs ssdings again made its
appearance and In little while swept
everything before It. Iustead Of keep
ing July wheat up to &c., as the clique
orosers had boasted they would, II was
again allowed to fall from 8S54,. to 82c
IN the early session, and after IL
dropped to Toe. June also fell from
S215c. to &c, then TO 1870, amid the
widest confusion, and shortly after
ward the failure of one OF the leading
clique houses, Moritz Rosenfeld & Co.,
was announced.
REGULAR PAIIc.
PAnicky news kept coming In from
Oil quarters and 1t soon became sppAt.
ent that the clique had lost its hold
As prices dropped the uproar became
eomething frightful. The anti.cliQue
dealers shouted themse Ives hoarse over
every fall, while the ring brokers vxiu
~ tried to steady their tum bling cause.
Then came the rumor thai there was q
run on the bank of Cincinnati, the
heAdquArters Of the clique, ana the
Chicago banks refused to advance any
more money. Later in the session it
WAs stated that tbs checks OF some OF
the parties Interested In the corner had
been refused, and this intens fed the
upr0Ar.
PLENTY OF MARGINS PROMISED.
At 2 20 O'Clock it was officially an
nounced that K. w. Bailey & 90. and
Hsmiil b Brine requested all parties
having trades With them to close them
out ct once. The instant this announce
ment was made July wheat dropped to
I72Hc., but soon recovered and went
back 70 Tao. A mmuDicAtion from
Kershaw & Co., the oliQues' leading
broker. WAS read, stating that plenty OF
margins would be on hand tomorrow,
and WAS received with mingled cheers
and Rroans. It had . revivifying effect,
however, as July soon rallied and sold
ct 1870. June wheat sold with the
widest fluctuations, from 92o do wn to
0Oc., up to Ole, and then by jumps down
to 73c.
THE DAY IN NEW YORK
NEW YORK. June 14.-As the rssul,
Of the heavy decline at Chicago the 10
/ cal wheat market suffered bad break
The speculative dealings are centred in
July, August and September deliver
lee and the changes in these created the
widest excite ment.
THREE FAILURES IN MILWAUKEE
| MILWAUKEE, June IA The sudden
drop In wheat at all the great grain cen
tres caused intense excitement Oh
| Change TO day. Three failures were
aunouaoed. viz Frank Wilson Joseph
Wilde & Hill, Fleitz helm Il Co., tine
latter being the Milwaukee branch Of
10. j. KershAw b. Co., OF Chicago
Hooker, Orittenden n 8 Go. closed out all
their trades. Their failure depends on
the ability of the Ktrshaw crowd to
meet all their obligations.
BALTIMORE SHORTS CATCH UP.
BALTIMORE, juno 14.-There was
! more business today on the floor Of the
Corn and Flour Exchange than for
some time past. The tales aggregated
mora than v million bushels OF wheat
which dropped three cents from the
closing prices at the noon call yester
day and afforded au opportunity for al
the shorts to fill. Before the close the rs
WAS q better feeling and prices ad
vanced.